Sustainability reporting 2018

For 2018, sustainability disclosures are found integrated in all parts of the report.

Please find relevant sustainability information in the integrated report at the beginning of the publication, in the CEO letter, the drivers and trends, the SKF Group objectives, the strategic priorities, the SKF share etc.

Our ambition is to make it as simple as possible to find your information. Therefore, all the details with reference to GRI Standards along with specific performance data can be found in the Sustainability statements, at pages 120–146.
The Annual Report 2018 is published on this site on March 6th, 2019.

Background
SKF’s first environmental report was published in 1994, and with time, this turned into a sustainability report. In 2000, SKF started to apply the GRI reporting guidelines to its annual sustainability reporting and in 2002 SKF issued the first annual report which included a section referred to as sustainability report.

In 2011, to better reflect how the business operates, we combined financial, environmental and social performance into one single report.

SKF’s Corporate Governance report is prepared in accordance with Swedish Code of Corporate Governance on page 168. SKF’s Annual Report also serves as the Group’s communication on progress for its continued membership in the United Nations Global Compact.

Environmental performance reporting started more than 15 years ago

Our commitment to environmental was made clear when we issued our first environmental policy in 1989. We were among the trend-setters to publish a separate environmental report as early as in 1994.

To ensure transparency and credibility of our reporting, already in 1998 SKF submitted its Environmental Report for external verification.

We were also very early in adopting the Sustainability Reporting Guidelines, issued by the Global Reporting Initiatives (GRI) in 2000, the same year the Guidelines were launched.

From environmental reports to sustainability reports

We recognized that for companies to sustain its success in the industry, it must act in environmentally and socially responsible manner while growing its business economically. Hence, it is sensible to include our social and economic performance in the Environmental Report in 2001, which then became Sustainability Report.

Subsequently in 2002, we integrated the Sustainability Report into the Annual Report, to emphasize that sustainability issues are embedded in SKF's operations.

Topics related to our sustainability reporting:

Since 2000, SKF has adopted the Global Reporting Initiative's (GRI) reporting guidelines in its sustainability reporting.

We apply the GRI reporting principles for defining content. In line with the Guideline's requirement on materiality, all reporting indicators have been carefully evaluated and those that are considered of significant materiality in relation to our economic, environmental and social impact, as well as our sustainability performance, are included in our Annual Report - and topics related to annual report.

In relation to the principle of stakeholder inclusiveness we engage our stakeholders in different ways, taking their opinions into considerations, and catering to their information needs in the Annual Report.

GRI standards

Our latest sustainability performance disclosures are fully integrated in SKF Group Annual Report 2018. It is prepared 'in accordance: Core' with the GRI standards, which is confirmed by external auditors.